The Data / Report are cheap canada goose uk subject to change

Growth arrested

canada goose CRISIL’s research report on Kewal Kiran Clothing canada goose

canada goose deals Kewal Kiran Clothing Ltd’s (KKCL’s) Q3FY17 results were below CRISIL Research’s estimates. Revenue grew 2.4% y o y canada goose uk black friday to Rs 985 mn, driven by 6% growth in domestic canada goose sales, while overseas sales declined 65% y o y. Demonetisation dented consumer canada goose store discretionary spending Canada Goose Jackets in the past two Canada Goose Coats On Sale months of the quarter, impacting sales. canada goose clearance sale Apparel volume and realisations posted a meagre 1% y o y growth each. EBITDA margin contracted 628 bps y o y to 11.6% owing to gross margin contraction and higher sales discounts. EBITDA declined 33.6% y o y, although its impact on adjusted PAT, which fell 13% y o y, was mitigated by higher other canada goose outlet income and lower tax cheap Canada Goose outflow. Our channel checks and interaction with various consumer companies indicate demand improved in January for most product categories. uk canada goose outlet Thus, we expect sales growth for KKCL to also improve in Q4FY17. However, sustainable growth recovery canada goose uk shop is likely to be gradual Canada Goose online we expect growth recovery from H2FY18. The industry’s long term prospects remain positive, given low per capita apparel consumption in India and a shift towards the canada goose uk outlet branded segment. Considering KKCL’s strong brand Canada Goose Parka portfolio, wide distribution reach and robust fundamentals, we expect it to benefit from the industry canadian goose jacket potential. canada goose factory sale We maintain our fundamental grade of 4/5. canada goose deals

canada goose coats on sale We roll forward our estimates by one year buy canada goose jacket to FY19. However, its impact on fair value is nullified, as we revise our FY18 earnings estimate downwards to canada goose coats factor in the delay in recovery in consumer demand. Consequently, we have maintained our DCF based fair value of Rs 1,933 per share. At the current market price of canada goose clearance Rs 1,737, the valuation grade is 4/5. canada goose coats on sale

canada goose black friday sale Disclaimer: This report (Report) has been commissioned by the Company/Investor/Exchange and prepared by CRISIL. The report is based on data publicly available or canada goose coats on sale from sources considered reliable by CRISIL (Data). However, CRISIL does Canada Goose Outlet not guarantee the accuracy, adequacy or completeness of the Data / Report and is not responsible for any errors or omissions or for the results obtained from the use of Data / Report. Canada Goose sale Opinions expressed herein are CRISIL’s opinions as Canada Goose Online on the date of this buy canada goose jacket cheap Report. The Data / Report are cheap canada goose uk subject to change without any prior notice. Nothing in this Report constitutes investment, legal, accounting or tax advice or any solicitation, whatsoever. The Report is not a recommendation to buy / sell or hold canada goose black friday sale any securities of the Company. CRISIL especially states that it has no financial liability, whatsoever, to the subscribers / users of this Report. This Report should not be reproduced or redistributed uk canada goose or communicated directly or indirectly in any form to any other person or published or copied in whole or in part especially outside India, for any purpose canada goose black friday sale.

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